Fuel company SEAOIL Philippines has an app called PriceLOCQ that lets customers lock fuel when the price is low and fill in their vehicles later at no additional cost, even when the global price of oil spikes.

Here’s how it works: If the fuel price is low, you buy the fuel in advance via the app and store it in a “virtual tank.” You can then choose to redeem your purchased fuel later, especially when the prices have gone up.

Over 200 partner gas stations around the country are available where you can redeem your fuel. The PriceLOCQ app also has features to let you monitor fuel prices over the past six months to help you decide when to purchase fuel.

SEAOIL Philippines CEO Glenn L. Yu says that the app is the company’s response to the changing needs of the market.

PriceLOCQ is available for download at the iOS App Store and Google Play

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